Verve Acquires Jun Group, a Mobile First Digital Advertising Firm

 Verve Group SE, a fast-growing, profitable digital media company that provides AI-driven advertising-software solutions, has successfully entered into an agreement with Advantage Solutions Inc. to acquire 100 percent of the interests in Jun Group, a leading mobile advertising company with a special focus on the demand side and strong relationships with leading brands and media agencies in the United States (the “Transaction”). Following the significant increased size and profitability, Verve updates its mid-term financial targets.

TRANSACTION OVERVIEW

  • Jun Group’s mobile-first demand-side business with direct access to 230+ Fortune 500 Advertisers and Agencies in the United States is the perfect fit for Verve’s market-leading US-centric mobile-supply-side platform. The Transaction will result in a more balanced sales model with 30% demand-side business and 70% supply-side business.
  • Jun Group serves a constantly growing and highly diversified client base.
  • The transformative transaction will materially increase the size and profitability of Verve, adding circa 23% revenue to the group, resulting in about €447 million in revenues.
  • The total consideration on a cash and debt-free basis amounts to EUR 170 million.
  • Verve’s already strong H1 2024 combined with this transformative acquisition leads to a significant 2024 guidance increase to €380-400 million (350-370m) in revenue.
  • The combination of Verve and Jun Group significantly expands the reach and scale of the combined company with proforma revenues of approximately €447 million
  • The Acquisition is expected to close around September 2024, pending regulatory approvals

Remco Westermann, CEO of Verve

“Over the past few years, we have built Verve into a strong, organically growing media company with a primary focus on the advertising supply side. With Jun Group, we are now significantly strengthening the demand side, which will enable us to achieve significant synergies. With a better balance between supply and demand, we can further increase transparency and efficiency for our clients, both publishers and advertisers, in line with our mission “Let’s Make Media Better”. In summary, this acquisition takes Verve to the next level, both operationally and in terms of growth and profitability, while reducing leverage.”

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Netra is a Dual Masters graduate in International Business and Marketing. She is a content-writing enthusiast and a social media addict. In her downtime, you will find her headbanging to Pop songs from around the world. She is also a sports fanatic and especially loves F1, Volleyball, and Cricket. Her hobbies are baking and watching Anime.

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